RBI Retail Direct Scheme
- November 11, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
No Comments
RBI Retail Direct Scheme
Subject – Economy
Context – PM to launch RBI’s retail direct, integrated ombudsman schemes
Concept –
- Prime Minister Narendra Modi will launch two innovative, customer-centric initiatives of the Reserve Bank of India (RBI), the retail direct scheme and the integrated ombudsman scheme, via video-conferencing.
- The RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors.
- It offers them a new avenue for directly investing in the securities issued by the Centre and the State governments.
- The investors will be able to easily open and maintain their government securities accounts online with the RBI for free, it added.
Reserve Bank-Integrated Ombudsman Scheme
- The Reserve Bank-Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by the central bank.
- The central theme of the scheme is based on “One Nation-One Ombudsman” with one portal, one e-mail address and one postal address for the customers to lodge their complaints.
- There will be a single point of reference for the customers to file their complaints, submit documents, track the status of their complaints and provide feedback.
- A multi-lingual toll-free phone number will provide all the relevant information on grievance redress and assistance for filing complaints.